COMMON MISTAKES NEW AGENTS MAKE #9

By
Education & Training with Real Estate Expert Witness Support

 

NOT UNDERSTANDING THE VALUE OF COMPANY IMAGE

 

One thing that is constantly overlooked by people entering the business is the image of the company they are joining. Company image and branding is built over many years of happy customers and lots of advertising.  Perception in real estate is sometimes more important than reality.  For whatever reason, certain companies are categorized as being able to work only certain markets...high end properties, etc.  If your intent is to specialize in one specific market, and not take listings or work buyers outside that market, you probably won’t need to be as concerned with image as agents who work a larger geographical area.  This is why market share matters.

            Company image can be seen differently area by area.  Often,  large companies get the advantage of showing off their power by more advertising and signs in yards.  In some markets,  this will be very important,  especially if you are a new agent.  But,  what is commonly overlooked by new agents,  is to learn what agents,  not the public,  thinks of the company. you are thinking of joining  We agents are strange characters.  If we don't trust a company,  we treat them a little differently.  I would imagine that anyone reading this blog can identify a company in their market place that is disrespected ....poorly trained agents,  lose when it comes to ethics, etc, etc.  On a mulitiple offer situation,  the listing agent is much more likely to want to work with someone they know and trust,  than an offer from an agent or company that is a little loosey goosey.  (Legal term)

 

 

 

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Guy Berry

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Comments (5)

KB Collins
Keller Williams Associate Broker / Attorney - Bayside, NY

I must say very interesting post.  Keep up the insightful work.

KB

Feb 28, 2009 09:56 AM
Danny Gerald
Carpenter Realtors - Greenfield, IN

I loined a small brokerage when I first got into real edtate.We only had 5 agents and I didn't get the one on one trainging that I recieved from the largest brokerage in Indiana after switching 4 months later. To me that is one major difference

Feb 28, 2009 03:37 PM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

The brokerage we work for is the largest in Jacksonville and well respected. Their training is superior. We may not have as large a commission split as some other companies, but I know that if there is a problem, my broker still step in and do the right thing. Mr. Watson has even bought houses to take care of a problem. He and I know that your reputation isn't just important, it's priceless. Great post, Guy.

Mar 01, 2009 04:29 AM
Anonymous
Julia Tse

Guy, wow, very good post!  Just last months, I represented a buyer.  My buyer would like to make an offer to a property.  I called the listing agent many times, and I also email him that we were interested to make an offer.  The listing agent never called me back or returned my email.  Then couple days later, the house was pending.  Now, MLS showed that he is dual agent; the price was not as high as we wanted to offer.  What do you think of that?

Aug 31, 2009 08:02 AM
#4
Guy Berry
Real Estate Expert Witness Support - San Jose, CA
Real Estate Broker and Legal Expert

Julie,  very simple.  File a grievance at the board.  As an industry,  we all whine about bad agents but we don't do anything about it.  I am on the professioal standards committee at our board.  A few month back we had a couple of bad agents,  who did some outrageous things to several sellers.  The also breached MLS Rules.  The result was that they were fined $7500 each.  Yes,  each.  So,  the belief that there is no teach in the Grievance process is incorrect.  And,   if you file the grievance,  be sure and name the broker of record., as well as the agent

Aug 31, 2009 10:09 AM